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3-4 September 2019
Bangkok Dusit Medical Services (BDMS)
Morgan Stanley Asia Pacific Corporate Day
Important Notice
The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Bangkok Dusit Medical Services Public Company Limited (“BDMS” and shares in BDMS, ”shares”) in any jurisdiction nor should it or any part of it from the basis of , or be relied upon in any connection with, any contract or commitment whatsoever.
This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which BDMS operates and general achievement of BDMS business forecasts, which will cause the actual results, performance or achievements of BDMS to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation.
This presentation has been prepared by the BDMS. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the BDMS or any of its agents or advisors or any of their respective affiliates, advisors or representatives, shall have any liability ( in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.
This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes.
This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws.
2
Contents
BDMS Overview & Updates
2Q19 & 6M19 in review
Healthcare Industry
Operational Statistics & Financial Highlights
3
Company Background
4
BDMS Overview & Updates
4
5
BDMS
Overview
Brand No. of Hospitals
No. of Beds*
Bangkok Hospital 25 4,057
Samitivej Hospital 6 1,324
Phyathai Hospital 5 1,241
Paolo Hospital 6 1,008
BNH Hospital 1 144
Royal Hospital 2 130
Local Hospital 3 395
* Maximum number of beds according to structure of the hospitals
48 Hospitals ~ 8,000 Beds
12,000+ Doctors
8,000+ Nurses
14,000+ Staffs
Established on February 26, 1972
Top 5 private hospital operators in the world by
market capitalization
Hub-and-Spoke model with an established
patient referral system helps create efficiency
through scale
10 Centers of Excellence
BDMS Wellness Clinic
Pharmaceutical manufacturer and drug stores
Diversification of Patient Mix
6
Medical Sophistication Secondary Tertiary Super Tertiary
Targ
et P
atie
nts
/ P
urc
has
ing
Po
we
r
Inte
rnat
ion
al
Pat
ien
ts
Hig
h-I
nco
me
P
atie
nts
M
idd
le-I
nco
me
P
atie
nts
So
cial
Se
curi
ty
Pat
ien
ts
5,635 10,724 15,981 18,885 21,652 21,974 24,051 37,371 47,862 51,407 56,607 63,655 68,844 72,772 79,333
40,407
18.4% 20.6%
23.1% 23.4% 23.1% 22.9% 23.1% 23.2% 23.3% 21.3%
22.4% 22.1% 21.4% 21.3% 21.6% 22.2%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 6M19
Successful Track Record of Expansion Through M&A and Greenfield Projects
BDMS has developed 17 new hospitals and acquired a total of 30 hospitals to date
Operating Income(THB mm) and EBITDA margin (%)
Solid Revenue Growth Over the Past Decade (2004-2018 CAGR of 20.8%) with Resilient EBITDA margin *
# Number of hospitals in the network post-acquisition Green font indicates Greenfield projects Brown font indicates acquisitions
Source: Derived from BDMS’ financial statements * Excluding non-recurring items
Strong Share Price Performance Backed by a Successful Expansion Track Record
Share Price (THB)
* Transfer of business to our new facility, Royal Phnom Penh
7
0
5
10
15
20
25
30
Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19
18
2013
• Samitivej Thonburi
• Bangkok Phitsanulok
31
29
2011
• Bangkok Hua Hin
• Bangkok Pakchong
• Health Network (8 Phyathai & Paolo hospitals)
2012
• Bangkok Udon
28
2007
• Royal Angkor International (Cambodia)
• Royal Rattanak (Cambodia) *
16
2006
• Increase in stake of Bangkok Pattaya, Bangkok Chanthaburi and Samitivej Sriracha (became subsidiaries)
• Bangkok Ratchasima
2005
• BNH
• Wattanosoth
10
2004
• Bangkok Heart
• Bangkok Samui
• Bangkok Phuket
• Samitivej Sukhumvit and Samitivej Srinakarin
12
37 2014
• Bangkok Chiangmai
• Royal Phnom Penh (Cambodia)
• Samitivej Chinatown
• Bangkok Khon Kaen
• Bangkok Sanamchan & Thepakorn
• Bangkok Siriroj
42
2015 • Bangkok Phetchaburi
• Sri-Rayong
• Dibuk • Samitivej Chonburi
• Bangkok Muangraj
2016
• Paolo Rangsit
43
45
2017
• Paolo Kaset
• Bangkok Surat
2018
• Chiva Transitional Care
46
48
2019
• Bangkok Chiangrai
• Bangkok International
8
BDMS Complete Continuum of Healthcare
BDMS Wellness Clinic
Early Detection
Curative
Chiva Transitional Care Hospital
Secondary Care
Tertiary Care
Super Tertiary Care
Centers of Excellence
Bangkok International
Transitional Preventive Promotive Rehabilitative
Non-Hospital Strategic Investment
Sterile Drug Manufacturer & Distributor Generic Drug Manufacturer Drug Store
BDMS Five-Year Strategy
Projects in Pipeline & Strategy
9
2025
Projects in Pipeline
2019 2020
48 Hospitals ~ 50 hospitals
~ 8,200 beds ~ 8,500 beds ~ 9,000 beds
Bangkok Hospital Chiangrai
(80 beds) Expansion of Samitivej
Sukhumvit (36 beds) Bangkok International
(172 beds)
o Jomtien Hospital (233 beds)
o Expansion of our Network Hospitals
2021-2023
Mövenpick BDMS Wellness Resort Bangkok (290 rooms)
Strategy
Volume & Margin Driven
Center of Excellence Increase occupancy
rate Expand insurance
patient base
Sustainability Innovation & Digital
International medical affiliation
Smart Virtual Hospital Health application
Quality & safety standard
Good corporate governance
Social responsibility
BDMS Centers of Excellence Network
Bangkok Headquarter
Samitivej Sukhumvit
Phyathai 2
Bangkok Phuket
Bangkok Pattaya
Bangkok Chiangmai
Bangkok Udon
Royal Phnom Penh
Samitivej Srinakarin
6
1
2
3
4
5
7
8
9
10
Upgrading Existing 10 Hospitals to Become Centers of Excellence with the Focus on International Patients
10 Bangkok Rayong
Diversified Sources of Revenues and Profitability
Commentary
11
* SVH also included SNH performance Remark: - EBITDA is calculated from revenue from hospital operations + revenue from goods + other income – cost from hospital operations – SG&A - Hospital abbreviation shown on Appendix
COE Operating Income Contribution in 6M19 COE Total EBITDA Contribution in 6M19
In 6M19, 10 Centers of Excellence (COE) contributed
50% of total revenues
57% of total EBITDA
Local and International Partnership
Medical Cooperation
Collaboration for education, training and research on orthopedics
Collabpration on occupational health, pediatrics, rehabilitation, clinical simulation and informatics
12
Collaboration for education and research on trauma and orthopedics
Collaboration for knowledge sharing on orthopedics
Research collaboration on the TRFS laser device for brain tumor surgery
Others international and local institutions
Collaboration on Gastrointestinal Medicine
BDMS Network Capabilities
13
Alarm Center: One Number All Access For Life Care
New CAMTS-CAMTS EU: Dual Accreditation Awarded
BDMS* had received dual accreditation of The
Commission on Accreditation of Medical Transport
Systems (CAMTS) from USA and EU
CAMTS is a review organization dedicated to
improving quality and safety of medical transportation
systems including fixed wing, sky ICU, medical escort,
ambulance, motorlance and hydrolance
* 13 BDMS network hospitals
Expanding Insurance Patient Base
Strategic Focus on Health Insurance
14
Patient Revenue by Payor: Increasing Insurance Portion
2013 6M19
Launched exclusive health insurance for BDMS network
Increase hospital traffic in BDMS network
Target insurance payor to increase from 29% in 2018 to 35% in the next few years
E-Claim & E- Billing
Utilization management
My First Class Healthcare @ BDMS by Allianz Ayudhya
Exclusive Health Insurance at BDMS Hospital Network The Viriyah Insurance Program 1 (Gold)
The Viriyah Insurance Program 2 (Deductible Plan) The Viriyah Insurance Program 3 (Delight)
Maximum benefit per year: THB 80m to THB 100m
Covering all medical treatments
Target high-end market
Maximum benefit for injury or sickness per disability:
THB 1m to THB 5m
Target mid to high-end market
Maximum benefit per year: THB 400k to THB 800k
Choice of THB 20,000/ THB 50,000 deductible per year
Target employee who already have welfare from company
Maximum benefit per year: THB 450k to THB 1.5m
Target mid market
15
Market Capitalization (USD mm) Revenue (USD mm)
EBITDA Margin Net Profit Margin
Global Hospital Rankings
16
Remark: - Market capitalization as of 19 August 2019
- Financial performance for year ended December 2018 except Ramsay for the year ended June 2018
17
2Q19 & 6M19 in Review
18
Consolidated Financial Summary
2Q19 & 6M19 Results
2Q19 6M19
Chg
(yoy)
% to
Revenue
Chg
(yoy)
% to
Revenue
Operating income +6%
(THB 19,637 mm)
+6%
(THB 40,407 mm)
Patient revenue +7%
(THB 18,692 mm)
+6%
(THB 38,484 mm)
Breakdown by location
Bangkok & Vicinity +5% 58% +5% 58%
Outside Bangkok +7% 42% +7% 42%
Breakdown by nationality
Thai +6% 70% +5% 68%
International +8% 30% +8% 32%
Breakdown by type of patients
Outpatients +6% 45% +7% 45%
Inpatients +7% 55% +5% 55%
19
Consolidated Financial Summary
2Q19 & 6M19 Profitability Ratio
(THB mm) 2Q19 2Q18 Chg (yoy) 6M19 6M18 Chg (yoy)
EBITDA * 3,892 3,860 +1% 8,962 8,793 +2%
EBITDA margin * 19.8% 20.9% 22.2% 23.0%
Core profit 1,864 2,043 (9)% 4,790 4,962 (3)%
Core profit margin 9.5% 11.1% 11.9% 13.0%
Net profit 1,865 2,043 (9)% 10,304 4,962 108%
Net profit 9.5% 11.1% 25.5% 13.0% * Excluding non-recurring items
6M19 Non-recurring items (net of income tax) THB mm
1. Gain on divestment in Ramkhamhaeng Hospital Public Co., Ltd. 6,094
2. Provisions for employee benefits (493)
3. One-time expenses in finding the land to locate electricity sub-station to accommodate the electricity usage at Bangkok International Hospital (88)
4. Gain on sales in other long-term investment 1
Total 5,514
20
Operational Statistics & Financial Highlights
Operating Income Growth
Operating Income (THB mm)
Commentary
21 Remark:- Operating income is calculated from hospital revenue + revenue from sales of goods + other income
Revenue Breakdown by Patient Types
6M19 Operating income increased by 6% yoy mainly from
Patient revenue increased 6% yoy, attributed to
Higher price intensity from Center of Excellence
Strong growth from international patients of 8% yoy
Increase insurance patient base of 11% yoy (Thai insurance grew 10% while
international insurance grew 18%)
Thai and International Patients
Revenue Contribution by Nationality
Commentary
22
Top 5 Nationality contribution
% to international patients’ revenue % to patient revenue
In 6M19, strong growth from international patients of 8% yoy while Thai patients grew 5% yoy
Key growth for International patient revenues are UAE (+94%), Oman (+82%) and
Cambodia (+22% yoy)
Operational Statistics
Number of OPD Visits per Day Average Daily Census ( ADC )
Remarks: - Including social security and new born patients
23
Average Length of Stay (days) Occupancy Rate Based on Available Beds
Remarks: - Including social security
EBITDA & EBITDA Margin * (THB mm)
Profitability Trend
24
EBIT & EBIT Margin * (THB mm)
* Excluding non-recurring items
Commentary Core Profit & Core Profit Margin * (THB mm)
In 6M19, core profit were THB 4,790 million
with net profit margin of 11.9%
If included non-recurring items totaling of
THB 5,514 million, net profit was 10,304 with
net profit margin of 25.5%
Capital Management
25
Capital Structure as of June 2019 Dividend Payment & Payout Ratio
Gearing Ratios: Well Within Covenants Interest Coverage
26
Healthcare Industry
Aging demographics and rising income support growth of Thai healthcare
Thailand as top tourist destination, capable medical personnel, convenient infrastructure & facilities and value for money attract medical tourism
Key Trend for Thai Healthcare Industry
27
Supportive Demographic and Economic Trends
Health Insurance
Healthy Trend
Increase health conscious lifestyle driven demand on preventive care
Shifting from traditionally treatment-based approach to preventive care which focuses on individual genetic, wellness, early detection, vaccination, diet and exercise including mental health awareness
Insurance companies increase co-operation with local hospitals to increase Thailand’s private health insurance penetration
Thai Government approved tax break on premiums paid for health insurance supporting an increase in healthcare demand
Health Tech
Mobile health apps would increase health conscious and preventive care
Support existing healthcare service rather than replacement
Mostly in searching for doctor and personal health information
Thailand Healthcare Coverage
Healthcare Segments in Thailand
Source: National Health Security Office (NHSO), The Office of the National Economic and Social Development Board (NESDB) and Social Security Office (SSO)
Universal Healthcare Coverage (UHC)
A welfare program for Thai people to receive medical coverage for IPD and OPD care at registered facilities
Civil Servant (CS) A welfare program provided to employees of governments and state-owned enterprises
Social Security Scheme (SS) Minimum requirement of healthcare provided to employees of private companies
Private Healthcare (Cash) Proportion of Thai population not covered or choose not to use public healthcare schemes (UHC, CS and SS), though may have private insurance coverage
UHC
32%
Cash
38%SS
11%
CS
19%
THB 146 bn
THB 123 bn
THB 41 bn
THB 71 bn
Total Expenditure for 2016: THB 381 bn
Patient Segment Covered by BDMS
28
# of Hospitals # of Beds
Private 347 40,720
Public 864 100,782
Total 1,211 141,502
(Number per 10,000 population) Thailand Global*
Doctor 5 14
Nurse 24 30
Bed 22 26
Thailand Healthcare Demand and Supply
Healthcare Demand Growing Faster than Supply
% of Healthcare expenditure to GDP
Healthcare Supply in Thailand (2016)
Total Private
Beds BDMS Registered
Beds * Market Share
Bangkok 17,404 2,830 16%
Central 11,614 2,024 17%
South 3,111 678 21%
Northeast 3,332 337 10%
North 5,259 220 4%
Total 40,720 6,089 15%
Source: WHO (2015)
BDMS Market Coverage (2016)
29 Source : NESDB and NSO
Low Healthcare Penetration
* Data as of 2014 Source: WHO, NESDB and NSO
* Company data as of June 2019 Source: NESDB and NSO
135 140 126 118 134 144 147 151 150 150 142
226 223 232 228 258
298 312 332 346 361 381
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Number of beds ('000) Thailand Health expenditure (THB, bn)
10 Years CAGR (2006-2016) Healthcare supply : +0.5% p.a. Healthcare demand : +5.4% p.a.
(Supply) (Demand)
3.8% 3.9% 4.0% 4.1% 4.3% 5.3%
6.3%
9.9% 11.2%
16.8%
Increasing Thailand Healthcare Demand
Aging population generates greater demand for healthcare expenditure
Monthly income per household in Thailand increased by 51% during 2007-17. This would support growing demand for healthcare
Health insurance reduces financial burden of out-of-pocket expense. Increasing trend for health insurance will benefit private hospitals
Source: OIC
6.4 8.9
3.2 3.3 2.9
15.1 13.0
7.0 5.9 5.1
23.3 19.5
9.9 8.4 6.7
Singapore Thailand Malaysia Indonesia Philippines
2010 2020 2030
Percentage of population above 65 years (%)
Source: UN Population Database: 2015
Population Growth and Aging Profile Commentary
Health & Personal Accident Insurance Premium
30
Unit : THB Million
Thailand Monthly Income per Household
Source : NESDB
Unit : THB Thousand
18
33
19 13 12
19
27
42
27
19 20
27
Total BKK Central North Northeast South
2007 2017
+51% +27% +40% +45% +72% +44%
Source: EIC, SCB and Ministry of Commerce
Medical Tourism
31
4.64.2
3.93.6
3.33.02.8
2.52.22.0
1.41.4
2008 2009 2010 2011 2012E 2013E 2014F 2015F 2016F 2017F 2018F 2019F
Million People
Increasing Trend of Medical Tourists to Thailand
Procedures ( In USD) USA Singapore* Thailand Malaysia* India
Heart Bypass 123,000 17,200 15,000 12,100 7,900
Heart Valve Replacement 170,000 16,900 17,200 13,500 9,500
Knee Replacement 35,000 16,000 14,000 7,700 6,600
Spinal Fusion 110,000 12,800 9,500 6,000 10,300
IVF Treatment 12,400 14,900 4,100 6,900 2,500
Source: Medicaltourism.com (2018)
Medical Tourism as a Rising Phenomenon
* Excluding doctor fee
32
Company Background
‘Hub-and-Spoke‘ Model
Strong patient referral system within and across each hub and spoke 1
Enhances synergies and benefits of scale among hospitals within the group 2
Shared supporting services among multiple hubs which enhance efficiency and competitiveness 3
Hub (Super Tertiary / Tertiary)
Referral patients
Referral patients
Referral patients
Referral patients
Medical equipment
Nurses
Doctors
Clinics / Medical Diagnostics
Spoke
Spoke
Spoke
Patients
33
Providing a Proven Patient Referral System and Creating Efficiency Through Scale
Established system provides a platform for future expansion 4
BDMS Wellness Clinic
34
Fertility Clinic
Dental Clinic
Cardioscience Clinic
Neuroscience Clinic
Musculoskeletal and Sports Clinic
Regenerative Clinic
7 Centers of
Preventive Excellence
Digestive Wellness Clinic
1
2
3
4
5
6
7
A Brand New Wellness Clinic Delivering World-Class Services
The first step in establishing the roots in preventative excellence. This has allowed BDMS to fully recognize its ambition.
By combining our expertise, extensive network and service, we hope to become Asia’s first premier preventative care facility that will set the global standard in wellness
Mövenpick BDMS Wellness Resort Bangkok
Luxury Wellness Resort in the Heart of Bangkok
35
Mövenpick BDMS Wellness Resort Bangkok (BWR) offers the perfect harmony of comfort
and recuperation at the heart of Asia’s most popular city destination with 290 rooms
The resort is directly connected to BDMS Wellness Clinic and is located just a few minutes’
walk from Thailand’s most prestigious shopping centers and BTS sky train Ploenchit station
With the holistic concept of healthy living, the resort offers a variety of dining venue serving
healthy options with organic ingredients
Mövenpick BDMS Wellness Resort Bangkok
36
Luxury Wellness Resort in the Heart of Bangkok
Source: Summary of the information from Thailand Securities Depository Company Limited (TSD) * Consisted of Bangkok Airways PCL and Bangkok Airways Holding Co., Ltd ** Consisted of Miss Napamas Ladpli, Mrs. Atinuch Malakul Na Ayudhaya and Mr. Parameth Ladpli, M.D.
37
% of Shareholding
1 Mr. Prasert Prasarttong-Osoth, M.D. and family 22.1%
2 Mr. Wichai Thongtang and family 7.3%
3 Bangkok Airways* 7.2%
4 Thai NVDR Co., Ltd. 6.7%
5 The Viriyah Insurance Co., Ltd. 6.1%
6 Social Security Office 4.1%
7 Mr. Chirotchana Suchato, M.D. and family 2.6%
8 Ladpli family** 2.4%
9 South East Asia UK (Type C) Nominess Limited 2.3%
10 Mr. Chuladej Yossundharakul, M.D. and family 1.9%
Total 62.5%
Shareholding Structure (As of 15 March 2019)
Investments
Non- Hospital Strategic Investments *
Investments in Other Hospitals : - Listed Companies
Bumrungrad Hospital PCL (BH) 24.88%
Pharmaceutical Business
A.N.B. Laboratories 100% Sterile pharmaceutical product manufacturer & distributor
Save Drug Center 100% Drugstore
The Medicpharma 87% Generic pharmaceutical product manufacturer
General Hospital Products PCL 46% Sterile pharmaceutical product manufacturer
Other Complimentary Business
National Healthcare Systems 100% Central lab, central supply chain, procurement & other shared services
Greenline Synergy 100% Shared IT services
Bangkok Premier Insurance
Broker
100% Health & life insurance broker
Bangkok Helicopter Services 100% Transportation of patients via helicopter services
* Not included all BDMS’ investments
38
THB mm
2,810 3,087
2017 2018
+10%
Non-Hospital Revenues
39
BDMS Awards & Recognition in 2019
Asia’s Outstanding Companies Poll –
Thailand for 2010s from Asiamoney
The Best Managed Healthcare Company
in Asia from FinanceAsia
All- Asia Executive Team Honored Company -
Thailand from Institutional
Investor
Thailand’s Top Corporate Brands
Hall of Fame from Chulalongkorn
University
Remark:- Number of beds is structured beds
For More Information:- www.bangkokhospital.com Group 1 (Bangkok&West&Cambodia) 1. Bangkok Hospital 100% 373 2. Bangkok Heart Hospital 100% 97 3. Wattanosoth Hospital 100% 48 4. Chiva Transitional Care 100% 52 5. Bangkok International 100% 172 6. Bangkok Huahin (BHN) 100% 64 7. Bangkok Sanamchan (BSN) 100% 210 8. Thepakorn (TPK) 44.5% 100 9. Bangkok Phetchaburi (BPR) 100% 255 10. Bangkok Muangraj (BMR) 100% 142 11. Royal Phnom Penh (RPH) 100% 100 12. Royal Angkor International (RAH) 80.0% 30
Ownership No. of Beds
Group 7: Non-Hospital 1. National Healthcare System 100% 2. Bio Molecular Laboratories 95.0% 3. The Medicpharma 87.1% 4. A.N.B Laboratories 100% 5. Save Drug Center 100% 6. General Hospital Products 46.0%
Group 3 (East) 20. Bangkok Pattaya (BPH) 97.3% 400 21. Bangkok Rayong (BRH) 100% 220 22. Bangkok Chanthaburi (BCH) 99.7% 170 23. Bangkok Trat (BTH) 99.8% 114 24. Sri Rayong (SRH) 100% 195
Group 6 (South) 43. Bangkok Phuket (BPK) 99.7% 266 44. Bangkok Siriroj (BSI) 100% 151
45. Dibuk (DBK) 99.7% 100 46. Bangkok Hat Yai (BHH) 98.8% 200 47. Bangkok Samui (BSH) 100% 52 48. Bangkok Surat (BSR) 100% 150
Group 5 32. Phyathai 1 (PT1) 100% 224 33. Phyathai 2 (PT2) 99.2% 260 34. Phyathai 3 (PT3) 98.2% 267 35. Phyathai Sriracha (PTS) 75.1% 350 36. Phyathai Nawamin (PTN) 99.8% 140 37. Paolo Paholyothin (PLP) 100% 267 38. Paolo Samutprakarn(PLS) 93.6% 200 39. Paolo Chokchai 4 (PLC) 85.7% 169 40. Paolo Rangsit (PLR) 100% 150 41. Paolo Kaset (PLK) 100% 162 42. Paolo Phrapradaeng (PLD) 84.0% 60
Group 4 (North&Northeast) 28. Bangkok Udon (BUD) 100% 120 29. Bangkok Phitsanulok (BPL) 100% 195 30. Bangkok Khon Kaen (BKN) 100% 140 31. Bangkok Chiangrai (BCR) 100% 80
Ownership No. of Beds
40
Group 4 (North&Northeast) 25. Bangkok Chiangmai (BCM) 100% 175 26. Bangkok Ratchasima (BKH) 91.4% 180 27. Bangkok Pakchong (BHP) 91.4% 31
Group 2 13. Samitivej Sukhumvit (SVH) 95.8% 311 14. Samitivej Srinakarin (SNH) 95.8% 400 15. Samitivej Sriracha (SSH) 70.1% 184 16. Samitivej Thonburi (STH) 63.5% 150 17. Samitivej Chonburi (SCH) 100% 220 18. Samitivej Chinatown (SCT) 100% 59 19. BNH Hospital (BNH) 91.5% 144
(BHQ)